Chart Newsroom

Print News Release

Weyerhaeuser Completes Sale of Assets to International Paper

Aug 4, 2008

FEDERAL WAY, Wash., August 4, 2008 Weyerhaeuser Company (NYSE: WY) today announced the completion of the sale of its Containerboard Packaging and Recycling business to International Paper (NYSE: IP) for $6 billion in cash.

Weyerhaeuser said it expects to use a substantial portion of the after-tax proceeds from the sale to pay down debt.

The transaction includes nine containerboard mills, 72 packaging locations, 10 specialty-packaging plants, four kraft bag and sack locations and 19 recycling facilities. (See list at end of release for locations.) Approximately 14,000 employees will transfer from Weyerhaeuser to IP as a result of the transaction.

“International Paper is gaining some of the best people and facilities in the world and our employees are joining a leader in this industry,” said Daniel S. Fulton, Weyerhaeuser president and chief executive officer. “At the same time, this transaction allows Weyerhaeuser to continue to refine its focus as a timber-based company with businesses that enhance the value of our timberlands.”

Weyerhaeuser Company, one of the world's largest forest products companies, was incorporated in 1900. In 2007, sales were $16.3 billion. It has offices or operations in 13 countries, with customers worldwide. Weyerhaeuser is principally engaged in the growing and harvesting of timber; the manufacture, distribution and sale of forest products; and real estate construction, development and related activities. Additional information about Weyerhaeuser's businesses, products and practices is available at http://www.weyerhaeuser.com.

Location List

Nine containerboard mills (6.3 million tons capacity)

Alabama: Pine Hill

California: Oxnard

Iowa: Cedar Rapids

Kentucky: Henderson

Louisiana: Campti

Oklahoma: Valliant

Oregon: Albany, Springfield

Mexico: Xalapa

72 packaging locations (99.4 billion square feet capacity)

Alabama:Huntsville

Arizona: Phoenix, Yuma

Arkansas: Fort Smith,Russellville

California: Anaheim, Camarillo, Compton, Elk Grove, Exeter, Modesto, Salinas, Sanger, Santa Paula

Colorado: Golden

Florida: Plant City, Tampa

Georgia: Columbus, Griffin, Lithonia

Illinois: Aurora, Bedford Park, Belleville, Lincoln, Montgomery, Rockford

Indiana: Butler, Indianapolis

Iowa: Cedar Rapids, Waterloo

Kansas: Kansas City

Kentucky: Bowling Green, Louisville

Michigan: Three Rivers, Warren

Minnesota: Austin, Fridley, St. Paul, White Bear Lake

Mississippi: Jackson, Magnolia, Olive Branch

Missouri: Maryland Heights, St. Joseph

Nebraska: Omaha

New Jersey: Barrington, Bellmawr

New York: Rochester

North Carolina: Charlotte, Lumberton, Newton

Ohio: Delaware, Eaton, Mount Vernon

Oklahoma: Oklahoma City

Oregon: Beaverton, Portland

Tennessee: Cleveland

Texas: Amarillo, Dallas, McAllen, Sealy

Virginia: Lynchburg

Washington: Bellevue, Moses Lake, Olympia, Yakima

Wisconsin: Manitowoc

Mexico: Ixtac, Mexico City, Monterrey, Silao

10 specialty packaging plants

California: Cypress

Georgia: Tucker

Illinois: Aurora

Indiana: Indianapolis

Kentucky: Richwood

North Carolina: Charlotte

Ohio: Delaware

Oregon: Beaverton, Hillsboro, Salem

Four kraft bag and sack locations (199,000 tons capacity)

California: Buena Park

North Carolina: Charlotte

Oregon: Beaverton

Texas: Dallas

19 recycling facilities

Arizona: Phoenix

California: Fremont, Los Angeles/Norwalk, West Sacramento

Colorado: Denver

Illinois: Chicago/Itasca

Iowa: Des Moines

Kansas: Wichita

Maryland: Baltimore

Minnesota: New Brighton

Nebraska: Omaha

North Carolina: Charlotte

Oregon: Beaverton, Eugene

Tennessee: Memphis

Texas: Carrollton

Utah: Salt Lake City

Virginia: Richmond

Washington: Kent

 

More Information: Contact Us

Top
Welcome to Weyerhaeuser's new website!

You appear to be using an older browser. This website is best viewed using the latest versions of Internet Explorer, Chrome, Safari, and Firefox. If you proceed without upgrading or switching browsers, you may not experience optimal navigation or page functionality. Thank you for your interest in Weyerhaeuser and we hope you enjoy your visit.

Update my browser now

×